Zeelab Pharmacy, an omnichannel healthcare brand, announced on Wednesday that it has raised $2.4 million in its first round of fundraising, which was headed by OTP Ventures. The investment was driven by key partners Kunal Suri and Suhail Sameer, the former CEO of BharatPe. According to a statement, the business expects to use the new funding for expansion. Along with strengthening its position as a leader in the Indian healthcare industry, it also intends to expand its retail network and create 60-minute delivery capabilities in both metro and non-metropolitan areas.

Mukul, who was 22 at the time, founded the Delhi-based company in 2019 to give patients access to medications at their full cost and reduce their cost by 90%. The business, which last year appointed actor Randeep Hooda as a brand ambassador, operates a network of more than 225 locations and handles more than 1,500 orders every day.

“This funding will serve as a catalyst for our growth plans, enabling us to further entrench our retail presence, bolster our delivery infrastructure, and fortify our omnichannel ecosystem. We believe this partnership will be instrumental in propelling our mission forward and creating a more inclusive and equitable healthcare ecosystem in India," says Rohit Mukul, Founder of Zeelab Pharmacy.

Recently, in a seed fundraising round led by Roots Ventures and IIMA Ventures, Cancrie, a firm that specializes in cutting-edge nanocarbon materials for energy storage, has raised $1.2 million.

According to a press release from Cancrie, the investment will be used to fulfill the increasing demand for its products, scale manufacturing, speed up research and development, and establish strategic alliances to incorporate its cutting-edge nanocarbon materials into next-generation energy storage systems.